An increase in both the sophistication and frequency of cargo thefts in 2013 has been highlighted in statistics released by TAPA (Transported Asset Protection Association). Interestingly - and in line with general expectation - the average value of reported cargo thefts continues to rise globally, notably in excess of US$300,000 in the EMEA region. This would suggest that the trend of highly targeted efforts by organised criminals continues, systematically identifying higher value cargoes. Unsurprisingly, the results in 2014 continue on the upward trend.
Essentially the diversion of a payment, mandate fraud is a long standing practice, the existence of which has been exposed in recent years due to a number of high profile cases as well as the proliferation of the use of the internet to facilitate payments.
